Smart TV market research report provides a complete study about Smart TV industry by major manufacturers, opportunity, cost structure, segmentation, applications, company profile, industry growth rate, production in forecast period 2018-2023. Smart TV market report also provides details of the major market players that are involved in the market such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors. Smart TV market is expected to grow at a CAGR of 16.52% during the forecast period.
The global smart TV market is expected to register a CAGR of over 16.52%, during the forecast period of 2018- 2023. The report profiles the smart TVs by resolution and panel, with the integration of advanced technologies of each segment.
The smart television technology landscape has witnessed significant changes and improvements, with the emergence of a plethora of technologies, ranging from OLEDs to QLEDs, HD to Ultra HD (UHD), and webOS to Android OS, thus creating the demand for a platform that enables simplified decision-making, for the adoption of technologies across multiple domains. With the proliferation of the internet in TV, users can now watch what they want, when they want, and however, they want.
The resolution has been the main focus of improvement, over the years, thus resulting in a shift from HD (720p with a resolution of 1280×720) to UHD (4K with a resolution of 4096×2160). 4K smart televisions have gained traction, especially due to their declining prices. As per the Consumer Technology Association (CTA), the sale of 4K smart televisions is outpacing that of HDTVs.
4K type expected to record significant growth
Currently, ultra-high definition (UHD or 4K) is now effectively the standard resolution for TVs larger than 40 inches. In Consumer Electronics Show (CES) 2018, the industry witnessed a glimpse of the next step to 8K, as a proof-of-concept of the higher resolution.
Though 4K has already hit the market, it is available in two versions – 3840 x 2160 (UHD) and 4096 × 2160 (4K). The difference between 4K and UHD is that UHD, with a resolution of 3840×2160, has a resolution twice that of Full HD and thrice that of HD. On the other hand, true 4K has the resolution of 4096×2160, which is primarily used in digital cinemas. Therefore, rather being simply 4x of Full HD, 4K derives its name from measuring 4000+ pixels on its longest side.
North America expected to account for the largest share in smart TV market
The advancement of new display technologies, such as QLED and OLED, across North America, has led to a decline in LCD panel manufacturing. On the other hand, the advancements are fueling the smart TV market, with upgraded QLED technology that enhances the color accuracy and produce brighter colors with larger volume.
Several regional players are focusing on expanding their worldwide presence, to gain market shares. The industry has been witnessing intense rivalry among the premium segments, as players have exhibited an eagerness toward integrating and promoting UHD screens. Some of the Major Players of the region include – LG Electronics Inc., Panasonic Corporation, Hisense Group Co. Ltd, Samsung Electronics Co. Ltd, Sony Corporation, and Koninklijke Philips NV.
Key developments in the smart TV market
Aug 2018 – LG Electronics announced that is poised to define the future of artificial intelligence for consumers and businesses, in the years ahead, with the establishment of a major new AI research center in North America, in collaboration with leaders in the academia and startup domains.
May 2018 – Sony Corporation released the ECX339A OLED Micro-display featuring UXGA (1600 x 1200 resolution), the highest in class for a 0.5-type product. This product achieves the world’s smallest pixel pitch of 6.3 μm, by leveraging Sony’s OLED display technology and miniaturization technology, thus enabling a resolution that is 1.6x higher than the previous model.―Flatland Today